SoCal tech innovators are building out solutions for this world and beyond. One local company is furthering its platform that works to improve mobile technology, and another is bolstering its advisory team with first-hand knowledge of space travel. Check out what’s new with the Built In LA Weekly Refresh.
Stem secured $250M. A new credit facility from Victory Park Capital went to Stem, a company specializing in music distribution and payments. Its fresh capital will help Stem give artists who aren’t yet ready to sell their catalog, but still want to profit from it, access to capital. It’ll also let Stem invest in future music for artists exiting the major label system. [Music Business Worldwide]
Vast added a new advisor. Working to develop technology for the human inhabitation of space, Vast appointed a veteran in space exploration to its advisory board. The company brought on former NASA astronaut Garrett Reisman to help further its goals of expanding humanity across the solar system. Reisman has flown in all three of NASA’s space shuttles and lived for two weeks in a deep underwater habitat. [Vast]
LA Tech Quote of the Week
“This strategic move is a watershed moment in our company’s journey. We recognized early on that AI is a central and core function to manage digital media at scale. Miro by far provides the richest AI analysis of sports content and is backed by the most talented engineers in the industry. The future of the fan experience will be powered by AI curation.”— Daniel Kirschner, Greenfly CEO
Greenfly acquired Miro AI. Headquartered in Santa Monica, Greenfly develops digital media orchestration software. It counts several sports leagues, teams and federations as customers, including MLB, PGA Tour and ESPN. The company is enhancing its tech stack with the acquisition of Miro AI, a company that uses artificial intelligence and machine learning to provide analysis of sports content. [Greenfly]
Embrace raised $20M. Culver City-based Embrace, a platform that helps engineers resolve mobile experience issues, announced a new round of capital from lead investor NEA. The growth capital will help Embrace invest in product innovation as it continues to serve mobile development teams. [PR Newswire]
